He said: “They set a fantastic example and it now looks like the plant has gone from being all but lost to having a bright future ahead.”

BiFab were saved after the Scottish Government indicated that they will make a commercial loan facility available to the firm if necessary. A financial package was also struck with Seaway Heavy Lifting, SSE and other partners on the Beatrice project.

Economy Secretary Keith Brown revealed BiFab almost went bust three times in the week leading up to the deal, which will see through the contract to April next year.

He added: “What we have to do now, and we’re actively involved in this with some very promising early signs, is make sure they can win further work for the yard.”